China's strong economic resilience adds confidence to the world (Wanghailou)
In the past two days, China's economic "three quarterly reports" have attracted much attention at home and abroad: "China's gross domestic product (GDP) grew 3.9 year-on-year in the third quarter, significantly higher than the previous value" "Industrial production exceeded expectations, and the growth rate of industrial added value above designated size in the third quarter was 4.1 percentage points faster than in the second quarter" "This marks a strong rebound in China's economy" ...... China's economy, which has been praised by the international community.
At present, the global economy is full of challenges, the new coronary pneumonia epidemic has been repeatedly delayed, geopolitical conflicts have intensified, food and energy problems have been highlighted, and the risk of stagflation is rising. International institutions such as the International Monetary Fund and the World Bank have recently lowered their global economic growth forecasts, warning that "the global economy is approaching recession". In this context, China's economy overcame the adverse effects of multiple unexpected shocks, and recovered to the better in the third quarter, which was significantly better than in the second quarter. Positive factors accumulated and increased, showing strong resilience, increasing confidence and momentum for the recovery of the troubled world economy.
Resilience, based on policy is strong, the market has potential. From 0.4 percent in the second quarter to 3.9 percent in the third quarter, how did China's economy return to growth beyond expectations? Strong and effective macro policies are an important support. From the manufacturing industry, small and medium-sized enterprises, individual industrial and commercial households to extend the tax repayment period, to invigorate the more than 500 billion yuan special debt local balance limit to stabilize investment ...... With the steady economic policy package continued to exert force, the succession policy decisively launched, industry, services and other major economic indicators continue to recover. In the face of the impact of unexpected factors, China's economy has stabilized and rebounded in a relatively short period of time, which is also based on the advantage of the super-large-scale market. In the third quarter, the contribution rate of final consumption expenditure to economic growth reached 52.4, driving GDP growth by 2.1 percentage points, accelerating the release of domestic demand potential, and further strengthening the stamina of China's economic recovery and development.
Resilience lies in increased economic vitality and strong development momentum. To observe the economy of a big country, we should look at the "potential" of data changes, but also the "ability" behind the development ". In the "three quarterly reports" of China's economy, a set of data is very eye-catching: in the first three quarters, the added value of high-tech manufacturing above scale increased by 8.5 compared with the same period last year, 4.6 percentage points higher than that of all regulated industries; investment in high-tech services increased by 13.4, 9.5 percentage points higher than that of all services; online retail sales of physical goods increased by 6.1, significantly faster than the total retail sales of consumer goods. These data are associated with a set of hot words-new technologies, new formats, new models and new demands. "Super Virtual Factory" has become a good helper for enterprises to tap production potential. Flexible production lines have enabled traditional manufacturing enterprises to move towards high-end customized production-the integration of cutting-edge technology with industrial and service industry scenarios has accelerated, and the quality of China's economic development has continued to improve.
Resilience is conducive to enjoying China's opportunities and promoting common development. "You can always trust China." Chinese Foreign Ministry spokesperson Hua Chunying recently posted such a sentence on social media and accompanied it with a calculation chart of the World Bank's World Development Indicators Database: From 2013 to 2021, China's average contribution to world economic growth reached 38.6.%, more than the combined contribution rate of the Group of Seven (G7) countries. In this regard, some netizens commented "look, this is China's contribution". Practice has fully proved that China's economic development is not only beneficial to itself, but also to the world. Judging from the "three quarterly reports", despite multiple difficulties and challenges, China's economic development is still at a good level among major economies, and China is still an important stabilizer and power source for world economic growth. China has also continued to promote a high level of opening up to the outside world, insisting on holding international exhibitions such as the CIIE, Canton Fair, Service Trade Fair, and Consumer Fair, and actively sharing development dividends with the world. Antonio Mayori, a professor at the Free University of International Social Sciences in Italy, believes that the current world economic recovery is more fragile, and the continued recovery of the Chinese economy will have a positive impact on the world economy.
China's economy is a sea. After repeated storms, China's economy has shown strong resilience and great potential, and has become stronger after the storm. With the in-depth study and implementation of the spirit of the Party's 20th National Congress, with the effectiveness of efficient and coordinated epidemic prevention and control and economic and social development and the release of macro-policy effects, China's economic resilience will be further enhanced, and China's new development will continue to contribute more positive energy to the global economic recovery.
